KIK Custom Products sets structure on $695 million facility ahead of Wednesday launch

By Sara Rosenberg

New York, May 1 - KIK Custom Products came out with a structure on its proposed $695 million credit facility as the deal is getting ready to launch with a bank meeting on Wednesday, according to a market source.

JPMorgan, Credit Suisse and UBS are the lead banks on the deal.

The facility consists of a $55 million revolver, a $400 million first-lien term loan and a $240 million second-lien term loan, the source said.

Proceeds will be used to help fund Caxton-Iseman Capital, Inc.'s acquisition of KCP Income Fund for C$804 million.

Concord, Ont.-based KCP, through its operating subsidiaries KIK Holdco Co. and KIK Operating Partnership, is a manufacturer of consumer products in the laundry, household cleaners, personal care, over-the-counter medicated and pharmaceutical categories.

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